Nifty’s Two-Point Gain Keeps Record Closing Streak Alive
Closing Bell: Nifty Inches Higher To An All-Time Closing High
Indian equity benchmarks ended flat as gains in metal stocks were offset by losses in PSU banking shares.
The S&P BSE Sensex fell 26 points or 0.07 percent to 37,665.80 while the NSE Nifty 50 index inched marginally higher to an all-time closing high of 11,389.
Six out of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal index's 1.2 percent gain. On the other hand, the Nifty PSU Bank index was top loser, down 2.14 percent.
The mid- and small-cap shares underperformed their larger peers as the Nifty Midcap 100 index fell 0.3 percent and the Nifty Smallcap 100 index declined 0.85 percent.
Sheela Foam, KPR Mill Among Stocks Moving On Heavy Volumes
- Techno Electric & Engineering: The Kolkata-based professional engineering service provider fell as much as 3.6 percent to Rs 274. Trading volume was 6.8 times its 20-day average.
- Sheela Foam: The Ghaziabad-based mattress maker rose as much as 5.2 percent to Rs 1,535. Trading volume was 28.5 times its 20-day average.
- KPR Mill: The Coimbatore-based apparel maker rose as much as 1.7 percent to Rs 655. Trading volume was 8.4 times its 20-day average.
- Schaeffler India: The Mumbai-based fabricated metal products maker fell as much as 1.11 percent to Rs 5,216. Trading volume was 10 times its 20-day average.
TVS Motor Company Falls After June Quarter Profit Misses Estimates
Shares of the Chennai-based two wheeler maker swung between gains and losses after it reported June quarter earnings.
Key earnings highlights:
- Net profit at Rs 147 crore versus estimate of Rs 172 crore
- Revenue at Rs 4,150 crore versus estimate of Rs 4,220 crore
Adani Ports Extends Losses After Q1 Profit Miss
Shares of the Ahmedabad-based shipping port operator extended losses and fell as much as 7 percent, the most in three months, to Rs 369.20 after its profit missed Bloomberg consensus estimates in June quarter.
Intellect Design arena Rises On Winning Multimillion Dollar Contract
Shares of the Chennai-based financial technology company rose as much as 3.36 percent to Rs 210.50 after it won a large multimillion dollar deal with a leading bank in Asia, the company said in an exchange filing.